Greeks Prefer Online Shopping

on-lineWhile traditional retailers all over Greece are suffering significant losses, the vast majority of Greek shoppers turn to on-line shopping. According to the Greek e-Commerce Association (GRECA), Greeks prefer online Shopping. In 2013, GRECA data showed that the amount Greek shoppers spent on purchases from Greek and foreign on-line stores increased to 3.5 billion euros, from 2.9 billion euros in 2012.

University of Athens’ e-Business Research Center (ELTRUN) data show that in 2011, total sales in Greece amounted to 1.7 billion euros. Between 2008 and 2012, on-line sales rose by 55.2% on an annual basis, one of the highest rates among European countries.  During the first 9 months of 2013, 74% of on-line purchases were related to travel services, followed by hotels and hospitality services (67%), computer hardware and software (65%), clothing and shoes (57%), event tickets (56%), and books (51%).

However, many Greeks are still wary and hesitant to shop on-line, as they are concerned on payment security and the protection of their personal data. According to Infobank Hellastat, consumers‘ suspicion is due to the lack of basic information on on-line shopping.

Despite Greek legislation outlining the information that must be included in on-line store websites, 10% of e-shops do not include basic information such as a contact address, about 40% of online stores do not include information on the protection of customers’ personal data, and 40% do not provide clear terms of use.